the 5 most expensive countries to live in – Behavior – Estadão E-Investidor – The main financial market news

  • Inflation in Brazil is one of the highest, but the cost of living in the country is only the 78th most expensive in the world, according to Numbeo
  • Tax and geographic position are determining factors for the cost of living in most of the five most expensive countries to live in.
  • The average salary in Switzerland exceeds the equivalent of US$ 6,300 and is one of the highest in the world.

Inflation accumulated in Brazil in the last 12 months is 11.7%, and the price increase is global. The United States recorded a rise of 9.1%, while the European Union stood at 8.6%, considering the average of all the bloc’s economies.

This is a phenomenon initially linked to the covid-19 pandemic. “When the world’s economies recovered ahead of schedule, there was unmet demand for a number of products and services,” explains João Alfredo Nyegray, professor of Geopolitics and International Business at Universidade Positivo (UP). As a result, prices rose.

THE war in Ukraine has worsened the situation. The sanctions imposed on the Russians have made oil, natural gas, fertilizers and metals more expensive. In addition, wheat and other exported Ukrainian products had shipping problems. “The rise in commodities generated a wave of global inflation”, comments the professor.

In some places, living expenses are even higher, especially in the Caribbean community, because of the geographic isolation.

At the Cost of Living Index carried out by Numbeo, which periodically calculates various items such as rent, food and local purchasing power, compared to New York City (USA), Brazil ranks 78th.

Check what are the five most expensive countries to live in right now.

1. Bermuda

Bermuda is an overseas territory of Great Britain, but it is administered as a country. The island, which is located more than a thousand kilometers off the coast of the United States, in the North Atlantic, almost everything you need — and that doesn’t come cheap, especially since the import tax is around 35%.

With a population of 72 thousand inhabitants squeezed into an area of ​​53 square kilometers, the price of rent is very high. To make matters worse, essential services such as electricity are provided by a state-owned company that has a monopoly.

As a result, a large part of the population is poor, and the youth unemployment rate is 29%.

2. Switzerland

Switzerland has the most expensive Big Mac in the world. (Source: GettyImages/Reproduction)

Switzerland was considered the most expensive country to live in by 2017, when he lost his post to Bermuda. However, unlike the Caribbean island, the Swiss territory is in the center of Europe, so the taxes levied are among the lowest in the world.

The main explanation for the high prices in the European nation is related to the high purchasing power of the local population. Despite not having a national minimum wage, the average worker earns more than 6,000 Swiss francs a month, the equivalent of more than US$ 6,000.

3. Bahamas

The Bahamas archipelago is made up of more than 700 islands located between Cuba and the United States, which are home to 355,000 people. With agriculture and industry very incipient, the Tourism represents most of the economic force from the country.

With almost all products consumed coming from abroad, the country’s main income is customs and service fees.

O Import tax reaches 220%, but the average of the products pays between 5% and 35%. Part of the population lives below the poverty line, and youth unemployment is 26%.

4. Barbados

Tourism is Barbados’ main source of income. (Source: GettyImages/Reproduction)

Barbados is located in the North Atlantic, but has an identity related to the Caribbean. THE sugar industry has a relevant participation in the economy, but the country depends on imported products of the United States and the United Kingdom to survive.

Despite the wealth generated by tourism, most of the population, of 300 thousand inhabitants, is poor. The unemployment rate for people between the ages of 25 and 34 is 26%. The country also suffers from the pollution of coastal waters due to the disposal of toxic waste by ships.

5. Iceland

Iceland combines geographic isolation, high import tax and rich population to become one of the most expensive countries to live in. The customs fee is 24%, and the average income is $5,500 a month.

Agriculture is highly regulated, with many products prohibited from being imported and local price controls, but all agricultural machinery must be purchased abroad. The local industry is focused on the production of aluminum, ferrosilicon and fish processing.

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